Ar 2005 06 Customers Small

Connecting with Customers
South Central Connecticut Regional Water Authority | Annual Report 2005-06
“Our reputation is built on strong, positive customer relationships. They are the center of our success. Service is what counts for customers.”

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Our Crews:
Above:
Paul Prusinksi, Jay Giri, Anthony Carangleo, Tony Ferraro
Right:
Rich Stufcliffe, Tom Vinci, Antonio Arroyo
Facing Page:
Ron Bonenfant, John Rivera, Larry Lynn

Marie B. Kennedy
Regional Water Authority Customer

our mission
Provide a reliable supply of high quality water at a
reasonable cost for today and future generations while
promoting the preservation of watershed land and aquifers.
our vision
Will be nationally recognized as a premier provider of water
and related services and products throughout the region.
our values
Prompt, courteous, service
Respect for our employees
Honesty and integrity
Safety
Innovation and efficiency
Diversity
Recreational and educational opportunities

“Fueled by over a century of experience and trust, our mission at the Regional Water Authority is to provide a reliable supply
of high-quality water at a reasonable cost for today and future generations…”

We felt it was time to hear from some of the people who deal with us every day –
our customers. This 2006 fiscal year annual report opens with some letters from
customers that express appreciation for the service we offer each and every day
to the Greater New Haven region.
Unlike gas or electric utilities, our service is consumed. Just like food, water
requires special protection. People cannot live without water. Providing clean
water to the homes and businesses that depend upon us every day is both a
privilege and a responsibility.
It’s not just individual departments who hear from customers. We receive letters
as well. A memorable one came from an East Haven customer who wrote to us
after she received her water quality report. In her letter, she said:
“Because of such service on your part, I know our water is safe. I appreciate
and thank you for the chart and information you give us and for all that you
as a group, do to make our water safe. We in the United States are privileged
in comparison to other countries who lack this treasured resource of water. I
dare say many Americans never stop to think how important water is and how
carefully we ought to use it.”
That letter says it so well. Indeed, water is a precious resource. It’s an uncommon
commodity, an everyday symbol of our community’s bounty and something
that citizens are entitled to. Our system, first conceived by Eli Whitney, Jr., in
1849, is a marvel of engineering and civic gumption.
Fueled by over a century of experience and trust, our mission at the Regional
Water Authority is to provide a reliable supply of high-quality water at a

“Indeed, water is a precious resource. It’s an uncommon commodity, an everyday symbol of our community’s bounty and something that citizens are entitled to.”

“Investment in the infrastructure that delivers high-quality water efficiently to our customers is our priority. In the last two years,
we devoted over $59 million into building and maintaining our region’s water system.”

reasonable cost for today and future generations while promoting the
preservation of watershed land and aquifers. We provide 55 million gallons
of water per day to some 400,000 consumers. We own and protect more than
25,000 acres of land.
Our reputation is built on strong, positive customer relationships. They are the
center of our success. Service is what counts for customers. Three areas of our
company – customer service, construction and field service have an 85 percent
satisfaction rating. A regional survey of 500 individuals from Greater New
Haven cites our commitment to recreation, environmental education and the
safe disposal of household hazardous waste. On pages 14-15, recreation permit
holders share their joys about our program. We take pride in connecting with
our customers.
On the following pages you will read about some projects and individuals who
turn to the Regional Water Authority for assistance. You will read about the
Hill Health Center pediatrician who wanted to improve his patients’ dental
health; two fire departments that know the value of water in their community;
and an array of non-profit community groups whose thirst is quenched by our
Whitney’s bottled water.
Investment in the infrastructure that delivers high-quality water efficiently to
our customers is our priority. In the last two years, we devoted over $59 million
to building and maintaining our region’s water system. We built treatment
plants, pump stations and water storage towers. We installed miles of main. We
also cleaned and lined water mains to sustain our infrastructure.

In 2006, we invested over $2.3 million to acquire over 170 acres of land and
conservation easements on another 76 acres in our region. All of this property
is within the watershed of our reservoirs. We dedicate resources to this because
acquiring the land strengthens our multi-barrier approach to producing quality
water for our consumers. It also ensures that land will remain as open space.
After all, the health of our waters is a measure of how we live on the land.
We connect with customers by remaining committed to their needs and continue
to add services. We introduced PipeSafe Plus Sewer Line Protection for our
customers. Much like our successful water line protection plan, which has been
around for eight years, the new plan offers quick repairs to a homeowner’s sewer
line. Our certified laboratory continues to offer testing for other water services
and recently we began issuing sewer bills to some municipalities on behalf of the
Water Pollution Control Authority. These initiatives, which stem from customer
requests, provide us with added revenue that keeps water rates low.
The following customer profiles offer a brief glimpse of our work and are a
testament to the talents and abilities of our employees. We believe the profiles
also explain who we are and what matters to us. Our values, which open up this
book, are at the core of who we are as an organization.
Claire Bennitt
Chairperson,
Regional Water Authority
David Silverstone
President Chief
Executive Officer
R. Douglas Marsh
Chairperson,
Representative Policy Board

“In 2006, we invested over $2.3 million to acquire over 170 acres of land and conservation easements on another 76 acres in our region.
All of this property is within the watershed of our reservoirs.”

Dr. Steve Updegrove
Pediatrician
Hill Health Center
“Parents spent additional money on the beverages
without gaining additional benefits for their families…
[Since the start of Captain Fluoride], “it’s gratifying
to see patients come around to drinking tap water,
and make the connection that fluoride is essential to
childhood health.”
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Bottled water-toting parents at New Haven’s Hill Health
Center faced a dilemma. They filled sippie cups with
filtered or spring water because they sensed it was better
for their children. However, those kids were missing out
on the benefits of fluoride.
Adding fluoride to the public water supplies is one of
the public health achievements of the twentieth century.
Fluoride, first added to municipal water systems in the
1940s, has a topical effect that helps in stabilizing the
enamel surface of teeth.
Dr. Steve Updegrove, a pediatrician at Hill Health Center,
speculated about the risk of tooth decay. He wondered
if the benefits of fluoride were lost as families, many on
fixed incomes, were reaching for bottled water. “Parents
spent additional money on the beverages without gaining
additional benefits for their families,” said Updegrove.
The bottled water phenomenon is in part the result of
greater weight consciousness that has led people to drink
beverages without calories. “From the standpoint of the
health of teeth, it’s good to buy water instead of juice or
soda. But a beverage with no sugar shouldn’t also lack
fluoride,” said Updegrove.
First he studied over 200 clinic patients to find out if they
drink tap water. Over 40 percent of the patients bought
bottled spring water because they thought it was better.
Patients knew that fluoride prevents tooth decay, but over
half didn’t know it was in tap water.
Armed with information from his study, Updegrove
approached the Authority’s education department for
assistance in developing materials that would be
informative, fun and appeal to youngsters
and their parents. Together with the
Authority they developed a brochure
explaining the benefits of fluoride, along with
a cartoon-hero, Captain Fluoride, who leads
youngsters through a series of games, including word
puzzles and a maze of water pipes leading to a sparkling
smile. This program also received support from the
American Dental Association’s Harris Fund and the federal
Department of Health and Human Services.
Since the start of Captain Fluoride, “it’s gratifying to see
patients come around to drinking tap water,” Updegrove
said “and make the connection that fluoride is essential to
childhood health.”
Besides New Haven, the Women, Infants Children
clinics in Milford and West Haven are spreading the
message that tap water has fluoride for a healthy smile.

Much like water, a fire department is a vital service to its citizens. The
department is on call 24 hours a day, seven days a week. Flexibility is
an essential part of the job. No day is predictable.
Each fire, each emergency call, is different. When the alarm goes off, a
fire crew responds. Simultaneously, there must be water on demand
and proper pressure in hydrants so firefighters can extinguish the
flames. The RWA creed on fire protection is clear: “Take firefighting
seriously. A hydrant should never be out of service.”
Milford Assistant Fire Chief James Wilkinson noted that most parts of
the country don’t have as good a municipal water system as our region
does. “We don’t rely upon dozens of big water tankers to pump water
from a pond and truck it to a fire. For us, the infrastructure is in place
waiting for us to tap. We know hydrants work. Water supply is not
an issue; for us it’s a given,” said Wilkinson, a 32-year veteran of the
department. Last year, Milford handled 7,000 calls for service.
A few years ago, the City of Milford and the Authority improved water
pressure and firefighting capabilities for the shoreline community of
nearly 53,000 people. “Those benefits are far-reaching and enhance
service throughout the town,” said Wilkinson. The town has over 235
miles of water main and more than 1,370 fire hydrants.
Handling more than 35,000 cases last year, the 400 women and men
of the New Haven Fire Department help protect the City of New
Haven which is 21.1 square miles and home to over 125,000 residents.
James Wilkinson
Assistant Fire Chief
Milford
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“We couldn’t fight fires in our urban environment without water. It is
definitely essential,” said New Haven Fire Chief Michael Grant, who
for nearly 20 years has enjoyed a close working relationship with the
Authority, especially with people in its operations division. Authority
crews also aid his department by responding to fire calls that are two-
alarm or greater. The crews help ensure that the more than 2,030 hydrants
have adequate pressure and supply during blazes in the city.
With many high-rise buildings, bustling retail shops, restaurants and
theatres, several blocks in downtown New Haven comprise a “high-value
district.” Here, the sidewalks show the strength of the city’s fire protection
system. Hydrants are just 300 feet apart, on both sides of the street,
ensuring that in emergencies, firefighters could pump between 8,000 and
10,000 gallons of water per minute.
Chief Grant cites the improvements the Authority made by installing
larger mains that upgraded “weak areas” in the system. “This year, we are
working closely on the cement lining project, especially when hydrants are
taken out and replaced by temporary ones in the area. My first exposure to
the Authority was when I was assigned to work on the hydrant program,”
said Grant.
Back in the mid-1990s, the water system was taxed so severely by illegally
opened or vandalized hydrants that three key branches of city government – Fire, Police and Mayor –
joined with the Authority to clamp down on the openings. Tampering with a hydrant reduces water
pressure, hinders firefighting capabilities and threatens neighborhood safety. As part of the campaign,
Grant visited elementary school students to talk about fire protection and to explain why opening
hydrants is dangerous. Through the collaboration, sprinkler caps were placed on selected hydrants and
city parks offered sprinkler sites as a safe way for kids to cool off.
Michael Grant
Fire Chief
New Haven
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14
Barrie Collins doesn’t mince words
when she describes why she has kept
a Regional Water Authority recreation
permit for close to 25 years.
“I wouldn’t be without a pass. There
are very few unspoiled places in
overdeveloped southern Connecticut,”
she said. “Where else can you go 10
to 15 minutes from home, get away
from noise, and be in a place that is
wilderness? It’s naturalistic. And the
water views can’t be beat.”
Through its recreation program,
the Authority offers people the
opportunity to drink up the rich
images of the great outdoors. With
eight recreation areas spanning 10 towns in Greater New Haven,
there is something for everyone. “It’s always changing, never in
four seasons will you see the same scene,” said Barrie.
The nearly 60 miles of trails to choose from certainly offer a
great variety. There are easy, short flat trails like the Pine Trail at
Genesee, or more challenging ones like the ridge at Northford’s
Big Gulph. “Most of the trails permit you to go in a circle, so
Dr. Stephen and Barrie Collins
Regional Water Authority Recreation Permit Holders

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there’s no need to double back or retrace steps,”
explained Barrie, who is excited by the diversity of
flowers at Lake Bethany. “There must be 15 varieties.”
Others like the program because they can run the trails
or fish some 17 miles of streams and rivers.
For James Doris, who likes to be in the woods and has
kept a permit for just over 10 years, the three-mile trail
at Maltby is a favorite for running. “You can get a good
run at Lake Bethany too,” he said.
Deer, turkeys, butterflies and bunnies bedeck the
trails and winding dirt service roads. Turtles and
salamanders soak up the sun on the rocks along the
waters edge. A great horned owl perches high up in the
trees at Maltby. In conjunction with the Department
of Environmental Protection, James volunteers to
conduct the hawk surveys. Several times a year, he
heads to the Lake Chamberlain recreation area with a
recorded owl call, where he will sit, listen and look for
birds of prey like falcons and hawks. ‘I’ve seen red-tail
hawks, northern goshawks and Cooper’s hawks over
the last two years,” said James.
The recreation program presents the “signs of nature as
she is meant to be,” said Barrie.
James Doris
Regional Water Authority
Recreation Permit Holder

From the 5,000 runners at the New Haven Labor Day Road Race, to area youth groups and schools, our Whitney’s bottled water quenches thirst.
Over the past year, more than 32,300 of our 16.9-ounce bottles of water went to civic and nonprofit groups in our region.
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From the 5,000 runners at the New Haven Labor Day Road Race, to area youth groups and schools, our
Whitney’s bottled water quenches thirst. Over the past year, more than 32,300 of our 16.9-ounce bottles
of water went to civic and nonprofit groups in our region.
Events like the Connecticut Food Bank’s Walk Against Hunger, the four-mile Julia’s Run for Children,
City Wide Youth Coalition’s Youth Walk, and the local American Cancer Society’s Relays for Life all had
Whitney’s bottled water. Areas schools from North Branford to Orange to West Haven and New Haven
distribute the bottles of water at their functions. Groups who need an army of volunteers, to staff their
events, offer our bottled water as a refreshment to keep their troops hydrated
and happy. Cold bottles of Whitney’s greeted volunteers at the International
Festival of Arts and Ideas, and the Guilford Handcrafts Festival as well as
New Haven’s Jazz in the Parks. City Seeds, which operates a farmers’ market,
promoted the opening of a new market in downtown New Haven with our
bottled water.
Some groups who receive the donations of bottled water choose to sell it to
raise money for their organizations. In Madison, the Island Avenue Elementary School Parent-Teacher
Organization did just that when it sold Whitney’s Water at the school’s “Family Movie Night.” “Your
donation helped us raise over $1,400 to fund field trips and cultural arts programs for students,” wrote
the PTO co-vice president in her note to the Authority. Bottled water was sold at the Foxon Recreation
League opening day baseball game. “The donation helps bring in additional revenue to run our league,”
said league secretary.
Because water is a vital and an often forgotten nutrient, organizations with a focus on health feature it in
their service programs. The Milford Red Cross makes water available to individuals at blood drives and
health clinics. Our bottled water was part of a smoking cessation program at a hospital.
So while our bottled water might not flood the market, the donations are an important ingredient in our
support of the community.

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Independent Auditors’ Report To the Members of
South Central Connecticut Regional Water Authority:
We have audited the accompanying statements of net assets of the South Central Connecticut
Regional Water Authority (the “Authority”) as of May 31, 2006 and 2005, and the related
statements of revenues, expenses, and changes in net assets and cash flows for the year ended
May 31, 2006, and five-month period from January 1, 2005 through May 31, 2005. These
financial statements are the responsibility of the Authority’s management. Our responsibility is
to express an opinion on these financial statements based on our audits. We did not audit the
financial statements of the Watershed Fund, a blended component unit of the Authority, which
statements reflect total assets constituting 0.28% and 0.26% of the total assets of the Authority
as of May 31, 2006 and 2005, respectively, and total revenues constituting 0.08% and 0.12% of
the total revenues of the Authority for the year ended May 31, 2006, and the five-month period
from January 1, 2005 through May 31, 2005. Those financial statements were audited by other
auditors whose reports have been furnished to us and our opinion, insofar as it relates to the
amounts included for the Authority, is based solely on the reports of such other auditors.
We conducted our audits in accordance with auditing standards generally accepted in the
United States of America. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement.
An audit includes consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the Authority’s internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements, assessing
the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits and the
reports of the other auditors provide a reasonable basis for our opinion.
In our opinion, based on our audits and the report of other auditors, the financial statements
referred to above present fairly, in all material respects, the net assets of the Authority as of May
31, 2006 and 2005, and the changes in its net assets and cash flows for the year ended May 31,
2006, and five-month period from January 1, 2005 through May 31, 2005, in conformity with
accounting principles generally accepted in the United States of America.
The “Management’s Discussion and Analysis” is not a required part of the basic financial
statements but is supplemental information required by the Governmental Accounting
Standards Board (“GASB”). This supplemental information is the responsibility of the
Authority’s management. We have applied certain limited procedures, which consisted
principally of inquiries of management of the Authority regarding the methods of
measurement and presentation of this supplemental information. However, we did not audit
such information and we do not express an opinion on it.
As discussed in Note 2 to the financial statements, in 2005, the Authority adopted GASB
Statement No. 40, Deposit and Investment Risk Disclosures—an amendment of GASB Statement
No. 3.
As discussed in Note 2 to the financial statements, the Authority changed its accounting year
end from December 31 to May 31 commencing on January 1, 2005.
August 23, 2006

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Management’s Discussion and Analysis: Year Ended May 31, 2006
introduction
The South Central Connecticut Regional Water Authority (“the Authority”) changed its
fiscal year as of January 1, 2005, from a calendar year to one ending May 31st. To achieve
this, the Authority created a transitional or “stub” period comprising the five months
from January 1, 2005 through May 31, 2005, with the first new fiscal year running from
June 1, 2005 through May 31, 2006 (“FY 2006”). A primary reason for the change was the
Authority’s recognition that water revenues in the months from June through August are
the most volatile because they are the most weather-dependent. The new fiscal year will
enhance the organization’s management of its revenues and expenditures because it will
comprehend most of the fiscal year’s volatility in revenues at the end of the first quarter,
rather than at the end of the third quarter.
As noted in our Independent Auditors’ Report from Deloitte Touche LLP, Management’s
Discussion and Analysis (MDA) provides supplemental information to the audit and
should be read in conjunction with it. The purpose of the MDA is to introduce and
highlight the more detailed information provided in the audited financial statements.
For example, it will assess improvement to or deterioration of the Authority’s financial
position and will identify factors that, in management’s opinion, affected financial
performance during the fiscal period under review.
contents of the audited financial statements
The Authority’s audited financial statements include the following:
K Statement of net assets
This statement provides information about the Authority’s investments in resources
(assets) and its obligations to creditors (liabilities), with the difference between them
reported as net assets.
K Statement of revenues, expenses, and changes in net assets
This statement demonstrates changes in net assets from one fiscal period to another
by accounting for revenues and expenditures and measuring the financial results of
operations. The information may be used to determine how the Authority has funded
its costs.
K Statement of cash flows
This statement provides information concerning the Authority’s cash receipts and
payments, as well as net changes in cash resulting from operations, capital financing,
and investing.
K Notes to financial statements
Notes to the audited financial statements contain information essential to
understanding them, such as the Authority’s accounting methods and policies.
the authority’s business
The primary purpose of the Authority according to its enabling legislation is to provide
and assure an adequate supply of pure water at a reasonable cost to its water district
and, to the degree consistent with the foregoing, to advance water conservation and the
conservation and compatible recreational use of land held by the Authority.
The Watershed Fund, established by the Authority for the purpose of protecting land on
the watershed through the acquisition of open space and promotion of environmental
education, is included as a blended component unit in the audited financial statements.
(See note 1 to the audited financial statements, Organization.)
fiinancial highlights
May 31, December 31,
Summary:
Revenues, expenses and changes in net assets “FY 2006” “Stub” 2005 (1)
“FY 2004”
(In thousands of dollars)
Operating revenues:
Water revenues $ 65,217 $ 23,216 $ 58,275
Other 8,695 2,630 7,524
Total operating revenues 73,912 25,846 65,799
Operating expenses:
Operating and maintenance 34,091 15,874 31,783
Expenses associated with “Other” revenue 4,196 1,321 3,177
Depreciation 12,670 4,625 10,297
Payments in lieu of taxes (“PILOT”) 5,795 2,279 5,493
Total operating expenses 56,752 24,099 50,750
Operating income 17,160 1,747 15,049
Nonoperating revenues and expenses:
Interest expense—net (14,954) (5,946) (14,586)
Gain (loss) on disposal of assets 1,447 (214) (1,887)
Realized and unrealized gains/(losses)
on investments (211) 64 (30)
Amortization of bond discount, premium, issuance
costs and deferred refunding losses (2,880) (1,183) (1,881)
Total nonoperating revenues and expenses (16,598) (7,279) (18,384)
Gain (loss) before contributions 562 (5,532) (3,335)
Capital contributions 1,775 592 1,787
Change in net assets $ 2,337 $ (4,940) $ (1,548)
(1) The five-month period ended May 31, 2005, allowed the Authority to make the transition to its
new fiscal year, beginning June 1, 2005, from its former fiscal year which was the calendar year ended
December 31, 2004.
The following items 1-5 highlight differences in the three columns of figures on the
preceding page which present a summary of revenues, expenses and changes in net assets
for three fiscal periods , i.e., for FY 2004; for the transitional period of five months from
January through May, 2005; and, for the Authority’s new fiscal year, beginning June 1,
2005 (“FY 2006”). Much of the difference between the middle column and the first and
third columns arises because the middle column represents a period of only five months,
while the other two each represent periods of twelve months. As a result, the following
explanations concentrate primarily on differences between FY 2004 and FY 2006.
1. Operating revenues
Contributing to the increase in operating revenue was an increase of 5.1% in revenues
from rates and charges that took effect on October 27, 2005. The Authority proposed this
increase to meet the requirements of its Water System Revenue Bond Resolution, General Bond
Resolution (“the General Bond Resolution”), in connection with the issuance of its Twentieth
Series Bonds to fund its program of capital improvements.
Also a factor was an increase in revenue in FY 2006 resulting from the Authority’s newly
initiated service protection plan, known as PipeSafe Plus, and a dryer-than-normal
summer period during fiscal year 2006.

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2. Operating expenses
Increases in operating expense reflect increased salaries and wages taking effect in
January of 2005 and 2006, as well as an increase in costs associated with employee
benefits.
Additions to utility plant resulted in a higher figure for depreciation.
PILOT made to municipalities increased, as shown.
3. Non-operating income and expenses
FY 2006 enjoyed higher rates of earning on investments than FY 2004 because of changes
in the financial markets.
Realized and unrealized gains on investments decreased by $275,000 between May 31,
2005 and May 31, 2006, because there was a greater difference between the market value
of investments and their cost on the latter date.
4. Disposal of assets
In FY 2006, the Authority sold land in Woodbridge and Milford, resulting in a gain on
disposal of assets.
5. Amortization
The amortization of bond discount, premium, issuance costs, and deferred refunding
losses (i.e., termination of the interest rate swap) was higher in FY 2006 than in FY 2004
because FY 2006 represents one full year of amortization associated with terminating the
interest rate swap, compared to just three months in FY 2004.
May 31, December 31,
Summary: Net assets “FY 2006” 2005 “FY 2004”
(In thousands of dollars)
Assets:
Capital assets $ 446,330 $ 437,254 $ 431,488
Other assets:
Current 23,929 21,320 21,693
Restricted assets 59,838 53,474 62,556
Other long-term 12,277 13,552 14,132
Total assets $ 542,374 $ 525,600 $ 529,869
Liabilities:
Current liabilities $25,934 $27,259 $27,153
Other long-term liabilities 2,000 2,000 2,000
Long-Term debt 371,071 355,309 354,744
Total liabilities 399,005 384,568 383,897
Net assets:
Invested in capital—net of related debt 95,448 101,250 103,229
Restricted 30,842 23,628 24,069
Unrestricted 17,079 16,154 18,674
Total net assets 143,369 141,032 145,972
Total liabilities and net assets $ 542,374 $ 525,600 $ 529,869
The following items 1-10 explain the summarized statement of net assets shown directly
above, again concentrating primarily on the differences between fiscal year 2004 and
fiscal year 2006.
1. Capital assets
The increase in capital assets results largely from completion of the Whitney Water
Treatment Plant, placed into service in April, 2005, an increase partially offset by growth
in accumulated depreciation over the same period. Other expenditures for capital assets
are more routine than the new water treatment plant, such as additions to pumping
equipment, improvements to existing water treatment plants, upgrades to the distribution
system (including new pipe), and improvements in information technology.
2. Current assets
The following itemizes the increase of $2.2 million in current assets between December
31, 2004 and May 31, 2006:
From 12/31/04 to 5/31/06
(Decrease) in cash and cash equivalents and short-term investments $ (278,124)
(Decrease) in accounts receivable, net (502,692)
Increase in accrued water revenue 3,351,620
Increase in interest receivable 173,517
Increase in materials and supplies 629,374
(Decrease) in prepayments and other current assets (1,137,600)
Net increase in current assets $ 2,236,095
Higher debt service transfers in FY 2006 resulted in less cash on hand.
The increase in accrued water revenue resulted from two rate increases, the first occurring
in September, 2004, and the second in October, 2005.
The increase in interest receivable reflects higher rates of earnings in the financial markets.
Higher prices for inventory and purchasing more of certain inventory items in advance of
price increases resulted in the increase in materials and supplies.
The decrease in prepayments reflects a lower receivable for public fire service. Billing of
this service is done in December and July.
3. Restricted assets (investments)
The term “restricted assets” refers primarily to certain funds established under the
Authority’s General Bond Resolution whose use is restricted as required by that document,
e.g.:
K Construction Fund;
K Rate Stabilization Fund;
K PILOT Fund;
K Capital Contingency Fund;
K Debt Service Fund
The Authority invests these restricted assets in securities as allowed by the General Bond
Resolution, e.g., in direct obligations of the federal or state governments (or agencies)
or in obligations guaranteed by the federal government. The decline of $2.7 million in
restricted assets between the end of FY 2004 and the end of FY 2006 mostly reflects
expenditure from the Construction Fund to pay for the Authority’s ongoing program of
capital improvements.

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4. Other long-term assets
This category of asset has two components, the larger being an interest rate swap
associated with the Authority’s Eighteenth Series Bonds issued in May, 2003, which
the Authority terminated in September, 2004. Also referred to as a “regulatory asset,”
the amount shown for the terminated swap decreases each month as the cost of the
termination is amortized, resulting in the decrease by $1.9 million shown for this line
item between the end of FY 2004 and the end of FY 2006. For more information, please
refer to note 2, Derivative Instruments, of the audited financial statements.
The other component of this line item is a second regulatory asset, representing an
estimated cost of $2 million associated with the Authority’s anticipated environmental
remediation of a middle school site in the town of Hamden, Connecticut.
5. Current liabilities
Current liabilities decreased by $1.2 million between the end of FY 2004 and the end
of FY 2006. Primarily, the decrease concerned the completion of the Whitney Water
Treatment Plant in April, 2005, and an associated decrease in payables, partially offset
by an increase in accrued interest payable resulting from issuance of the Authority’s
Twentieth Series Bonds in October, 2005.
6. Long-term debt
Long-term debt increased by $16.3 million between the end of FY 2004 and the end of
FY 2006, as a result of the Authority’s issuing its Twentieth Series Bonds in October, 2005,
partially offset by principal payments on other outstanding debt.
7. Invested in capital, net of related debt
This line represents the Authority total capital assets, less long-term debt, an amount
which decreased by $7.8 million between the end of FY 2004 and the end of FY 2006.
Over that period, long-term debt increased by a greater amount than utility plant-in-
service.
8. Net assets, restricted
Restricted net assets increased by $6.8 million between the end of FY 2004 and the end
of FY 2006, primarily because the value of those investments exceeded amounts payable
from them on the latter date.
9. Unrestricted net assets
Unrestricted net assets decreased by $1.6 million between the end of FY 2004 and the
end of FY 2006 because the Authority had lower balances due for current liabilities on the
latter date.
10. Total net assets
The Authority’s total net assets decreased by $2.6 million between the end of FY 2004 and
the end of FY 2006, largely because long-term debt increased by more than capital assets
during that period.
the authority’s customer base
The Authority’s customer base is primarily residential and commercial. Of its
approximately 108,000 customers, 98,000 are residential, and 6,400 are commercial with
the remainder being industrial, public authority, and miscellaneous. In FY 2006, as is
typical, 76% of the Authority’s total revenue came from its residential customers which
means that changes in the region’s economic condition affect revenues only modestly. The
highest consuming customers of the Authority, i.e., commercial/ industrial/institutional
users of one million or more cubic feet per quarter, provide less than 5% of the Authority’s
total annual revenue.
the operating budget for fy 2006
Operating revenue exceeded budget by approximately 7% as a result of dry summer
weather in 2005, resulting in higher-than-anticipated draft and water revenues for
the fiscal year ended May 31, 2006. Also, the Authority implemented an increase in
revenue from rates and charges equal to 5.1%, effective October 27, 2005. Operating and
maintenance expense for FY 2006 was $29,000 under budget because the cost of payroll
and consulting fees was lower than anticipated, partially offset by higher costs associated
with employee benefits and transportation.
liquidity and capital resources in fy 2006
In FY 2006, the Authority received $70 million in cash from operations and $1 million
from investment earnings. These amounts were sufficient to pay for operations and
maintenance ($36 mllion); to fund debt service transfers ($28 million); and, to fund
PILOT transfers for payments to municipalities ($6 million).
The Authority funds its program of capital improvement largely through the issuance of
debt, most recently in October, 2005, with its Water System Revenue Bonds, Twentieth Series,
in the amount of $23.4 million. In conjunction with the Twentieth Series, the Authority
implemented an increase in necessary revenues from rates and charges.
credit rating
In October, 2005, Standard Poors and Moody’s Investors Service affirmed ratings of A+
and A2, respectively, on the Authority’s outstanding debt.
financial statement presentation
The Authority’s financial statements are prepared on the accrual basis of accounting in
accordance with accounting principles generally accepted in the United States of America.
request for information
Please note that the audited financial statements include data from the year ended
May 31, 2006 and the five month period from January 1, 2005 through May 31, 2005.
Comparable information for earlier years is available as noted below.
This financial report is designed to provide a general overview of the South Central
Connecticut Regional Water Authority’s finances. Questions concerning any of the
information provided in this report or requests for additional information should be
addressed in writing to the Vice-President, Finance and Administration, South Central
Connecticut Regional Water Authority, 90 Sargent Drive, New Haven, Connecticut 06511.

24
2006 2005
Assets
Utility Plant:
Property, plant, and equipment in service $ 522,453,207 $ 500,637,174
Accumulated depreciation (136,656,303) (125,469,461)
Utility plant in service 385,796,904 375,167,713
Construction work in progress 4,211,653 6,400,231
Utility plant—net 390,008,557 381,567,944
NONUTILITY LAND AT COST 56,321,482 55,686,215
CURRENT ASSETS:
Cash and cash equivalents 2,061,991 2,623,915
Short-term investments 429,347 593,340
Accounts receivable, less allowance for doubtful accounts of
$284,971 and $300,480 in 2006 and 2005, respectively 4,745,577 4,508,927
Accrued water revenue 11,188,951 9,319,042
Accrued interest receivable 315,584 263,419
Materials and supplies 2,002,962 1,474,061
Prepaid expenses and other assets 3,184,701 2,537,651
Total current assets 23,929,113 21,320,355
RESTRICTED ASSETS 59,838,226 53,473,638
WATERSHED FUND ASSETS 1,509,448 1,362,774
REGULATORY ASSETS 10,767,404 12,189,146
TOTAL $ 542,374,230 $ 525,600,072
LIABILITIES AND NET ASSETS
LIABILITIES:
Revenue bonds payable—net of deferred refunding losses—less current portion $ 371,071,033 $ 355,308,816
Current liabilities:
Current portion of revenue bonds payable 9,092,500 9,615,000
Accounts payable 2,499,599 2,225,639
Customer deposits and advances 719,212 516,029
Other accrued liabilities 4,785,415 4,338,687
Total current liabilities 17,096,726 16,695,355
Liabilities payable from restricted assets:
Accounts payable for construction 1,304,009 3,775,315
Accrued interest payable 6,303,116 5,540,486
Customer deposits and advances 1,230,473 1,248,434
Total liabilities payable from restricted assets 8,837,598 10,564,235
Other liabilities 2,000,000 2,000,000
Total liabilities 399,005,357 384,568,406
NET ASSETS:
Invested in capital assets—net of related debt 95,447,933 101,250,246
Restricted assets 30,841,917 23,627,818
Unrestricted assets 17,079,023 16,153,602
Total net assets 143,368,873 141,031,666
TOTAL $ 542,374,230 $ 525,600,072
See notes to financial statements.
Statements of Net Assets
asof May 31, 2006 and 2005

25
Statements Of Revenues, Expenses,
and Changes in Net Assets
for theYear Ended May 31, 2006,
and Five-Month Period
from January 1, 2005 through May 31, 2005
2006
Five-Month Period
From January 1, 2005
Through May 31, 2005
OPERATING REVENUES:
Residential and commercial $ 53,299,517 $ 19,013,069
Industrial 3,095,209 952,840
Fire protection 4,888,243 1,945,888
Public authority 2,598,349 871,959
Wholesale 1,335,324 432,126
Other 8,694,955 2,629,654
Total operating revenues 73,911,597 25,845,536
OPERATING EXPENSES:
Operating and maintenance expense 34,137,040 15,808,976
Expense associated with “Other” revenue 4,195,727 1,321,541
(Recoveries) provision for uncollectible accounts (46,060) 64,674
Depreciation 12,669,959 4,625,191
Payment in lieu of taxes 5,794,695 2,278,622
Total operating expenses 56,751,361 24,099,004
Operating income 17,160,236 1,746,532
NONOPERATING INCOME (EXPENSE):
Interest income 2,606,202 901,166
Gain (loss) on disposal of assets 1,446,829 (213,859)
Realized and unrealized (losses) gains on investments (210,880) 64,069
Interest expense (17,560,565) (6,847,251)
Amortization of bond discount, premium, issuance cost, and deferred refunding losses (2,879,741) (1,182,894)
Total nonoperating expense (16,598,155) (7,278,769)
Income (loss) before contributions 562,081 (5,532,237)
CAPITAL CONTRIBUTIONS 1,775,126 592,472
CHANGE IN NET ASSETS 2,337,207 (4,939,765)
TOTAL NET ASSETS—Beginning 141,031,666 145,971,431
TOTAL NET ASSETS—Ending $ 143,368,873 $ 141,031,666

26
Statements of Cash Flows
2006
Five-Month Period
From January 1, 2005
Through May 31, 2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from water sales $ 62,966,407 $ 24,641,780
Cash received from other services 8,662,360 2,613,722
Cash paid to employees (14,401,916) (6,556,682)
Cash paid to suppliers for operations (19,583,611) (8,698,521)
Cash paid to suppliers for other services (4,375,496) (1,415,163)
Payments in lieu of taxes (5,942,863) (1,812,661)
Net cash provided by operating activities 27,324,881 8,772,475
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 2,554,037 779,814
Purchase of short-term investments (429,347) (593,340)
Purchase of restricted investments (415,171,748) (52,856,636)
Sale of restricted investments 408,922,739 61,935,260
Net cash (used in) provided by investing activities (4,124,319) 9,265,098
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Payments for utility plant (25,300,908) (11,170,766)
Proceeds from disposition of assets 2,860,970 35,305
Proceeds from issuance of Revenue Bonds 23,415,211 —
Payment of revenue bonds (9,617,000) —
Interest paid (16,895,885) (7,640,131)
Contributions in aid of construction 1,775,126 592,472
Net cash used in capital and related financing activities (23,762,486) (18,183,120)
NET DECREASE IN CASH AND CASH EQUIVALENTS (561,924) (145,547)
CASH AND CASH EQUIVALENTS—Beginning of period 2,623,915 2,769,462
CASH AND CASH EQUIVALENTS—End of period $ 2,061,991 $ 2,623,915
RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Operating income $ 17,160,236 $ 1,746,532
Adjustments to reconcile operating income to net cash provided by operating activities:
Depreciation 12,669,959 4,625,191
Changes in:
Prepaid expenses and other assets (647,050) 1,784,650
Accounts receivable and accrued water revenue (2,106,559) (842,369)
Materials and supplies (528,901) (100,473)
Watershed Fund assets (146,674) (12,540)
Accounts payable 273,960 (210,839)
Customer deposits 203,182 (64,004)
Other accrued liabilities 446,728 1,846,327
Total adjustments 10,164,645 7,025,943
NET CASH PROVIDED BY OPERATING ACTIVITIES $ 27,324,881 $ 8,772,475

27
1. organization
The South Central Connecticut Regional Water Authority and
Component Units (the “Authority”) was created, effective July 25,
1977, pursuant to Special Act No. 77-98 (the “Act”) as amended, by the
Connecticut State Legislature. The primary purpose of the Authority is
to provide and assure an adequate supply of pure water at a reasonable
cost to the South Central Connecticut Regional Water District (the
“District”) and, to the degree consistent with the foregoing, to advance
water conservation and the conservation and compatible recreational
use of land held by the Authority. The five-member Authority is elected
by the 17-member Representative Policy Board, (the “RPB”). The RPB
consists of a member from each of the 16 municipalities within the
District and one member appointed by the Governor of Connecticut.
During 1999, the Authority established the Watershed Fund, a separate
legal entity organized for the purpose of protecting watershed land that
has a distinctive ecological significance through open space acquisition
and environmental education. Although it is a separate legal entity from
the Authority, the Watershed Fund is included as a blended component
unit in the Authority’s financial statements (see Note 5). Requests
for complete financial statements for the Watershed Fund should be
addressed in writing to President, The Watershed Fund, 90 Sargent
Drive, New Haven, CT 06511.
2. summary of significant accounting policies
The accounting records of the Authority are maintained in accordance
with accounting principles generally accepted in the United States of
America. All assets, liabilities, net assets, revenues and expenses are
accounted for in a proprietary fund, with revenues recorded when
earned and expenses recorded at the time liabilities are incurred. The
more significant accounting policies are summarized below.
The five-member Authority has approved the Authority’s change of the
accounting year end to May 31, commencing on January 1, 2005.
The Authority has elected, under GASB Statement No. 20, Accounting
and Financial Reporting for Proprietary Funds and Other Government Entities
That Use Proprietary Fund Accounting, to follow only GASBs issued after
November 30, 1989.
Basis of Accounting—The Authority utilizes the accrual basis of
accounting wherein revenues are recognized when earned and expenses
when incurred.
Regulatory Accounting Policies—The Authority follows generally
accepted accounting principles, which for regulated public utilities
include Statement of Financial Accounting Standards (“SFAS”) No. 71,
Accounting for the Effects of Certain Types of Regulation (“SFAS No. 71”).
Under SFAS No. 71, regulated companies defer costs and credits on the
statement of net assets as regulatory assets and liabilities (see Note 2
under the caption “Regulatory Assets”) when it is probable that those
costs and credits will be recoverable through the ratemaking process
in a period different from when they otherwise would have been
reflected in income. These deferred regulatory assets and liabilities are
then reflected in revenues or expenses in the period in which the same
amounts are reflected in rates.
Utility Plant—Utility plant is stated at cost. Cost includes material
and direct labor, as well as indirect items, including engineering,
supervision, payroll taxes, employee benefits, transportation, and
capitalized interest on significant construction projects.
The costs of maintenance and repairs are charged to the appropriate
operations and maintenance expense accounts as incurred, while the
costs of renewal and betterments are capitalized. The book value of
depreciable utility plant retired in the ordinary course of business is
removed from the asset and accumulated depreciation accounts. Gain
or loss realized upon disposal is credited or charged to income.
Depreciation—Depreciation expense is computed using the straight-line
method based on service lives. Half of a year’s depreciation is assessed
for assets in the year they are placed in or removed from service.
Estimated service lives range from five years for data processing
equipment and automobiles to 100 years for source of supply and
supply mains.
Restricted Assets—Restricted assets, consisting principally of
investments in U.S. Government obligations, are carried at fair value.
All investments are held in the Authority’s name by banks. Interest on
investments is accrued as earned.
Watershed Fund Assets—The assets in the Watershed Fund are stated at
fair value.
Revenue Recognition—The Authority accrues revenue based on an
estimate of water service provided to each customer from the last meter
reading date to the balance sheet date. Interest is accrued on unpaid
customer accounts after 30 days from the billing date.
Other Revenue—Other revenue is comprised of revenue from the
Pipesafe Service Protection Plans, laboratory testing services, computer
billing services, data hosting fees, fleet repairs, and miscellaneous
charges.
Cash and Cash Equivalents—Cash and cash equivalents include cash
on hand, amounts due from banks and repurchase agreements that are
collateralized by U.S. government securities. The Authority considers all
unrestricted investments with an original maturity of three months or
less to be cash equivalents.
Short-term Investments—The Authority considers all unrestricted
investments with a maturity date of more than three months, but less
than one year to be short-term investments.
Materials and Supplies—Materials and supplies are stated at the lower of
weighted average cost or market.
Customers’ Advances for Construction—Cash advances to reimburse
the Authority for costs to construct supply mains are contributed to the
Authority by customers, real estate developers, and builders in order to
extend water service to their properties. The value of these contributions
is recorded as “customer deposits and advances.” The Authority makes
refunds on these deposits and advances in accordance with the deposit
and advance agreements. After all refunds are made, any remaining
balance in the customer advance account for which work has been
completed is recorded as a capital contribution.
Capital Contributions—Capital contributions include contributions-in-
aid-of-construction resulting from direct nonrefundable contributions
and the portion of customers’ advances for construction that
become nonrefundable. Also included are capital grants representing
nonrefundable contributions for construction purposes from
governmental agencies.
Notes to Financial Statements

28
Regulatory Assets—Regulatory assets include the following deferred
charges in 2005: a $2 million liability for anticipated environmental
remediation costs in the town of Hamden and a $8.8 million
unamortized loss from terminating the interest rate swap associated
with the Eighteenth Series Bonds. Because future rates will be
established at a level sufficient to recover these costs, the Authority
recorded a regulatory asset in accordance with SFAS No. 71 as of
December 31, 2003. See Note 11, “Other Liabilities.”
Derivative Instruments—On March 13, 2002, the Authority entered into
an agreement with a counter- party for a forward-dated, Bond Market
Association (“BMA”) based interest rate swap at a fixed rate of 5.262%
and with an effective date of May 7, 2003, to hedge a portion ($80.3
million) of its proposed current refunding of the Authority’s Eleventh
Series Bonds.
On September 1, 2004, the Authority issued Bond Anticipation Notes
(“BANS”) to partially pay the unwind cost of the interest rate swap. The
BANS were paid in full on September 22, 2004, with proceeds from the
Nineteenth Series Revenue Bonds. On October 1, 2004, the Authority
terminated the interest rate swap and paid the remaining balance of the
termination payment to the counter-party, eliminating the derivative
instrument liability. At that time, the Authority converted the $80.3
million it had hedged with the interest rate swap to $50.3 million in
fixed rate bonds and $30 million in variable rate bonds.
The Authority entered into the interest rate swap to manage the effect of
fluctuating interest rates on earnings and cash flows in future periods.
The swap qualified as a derivative instrument under SFAS No. 133,
Accounting for Derivative Instruments and Hedging Activities (“SFAS No.
133”). This standard requires an entity to recognize the fair value of all
derivative instruments as either assets or liabilities in the balance sheet,
with the offsetting unrealized gain or loss recognized in earnings.
This standard permits the deferral of hedge gains and losses to other
comprehensive income, under specific hedge accounting provisions,
until the hedged transaction is realized. However, the Authority is
a governmental agency and, therefore, its financial statements are
prepared in accordance with the provisions of GASB No. 34, which do
not provide for other comprehensive income. Accordingly, cash flow
hedge accounting cannot be afforded the Authority. The Authority
terminated the interest rate swap in 2004 and because future rates will
be established at a level sufficient to recover these costs, the Authority
has recorded a regulatory asset and has begun amortizing the loss over
the life of the refunded bonds, through July 2012 under the provisions
of SFAS No. 71.
Use of Estimates—The preparation of financial statements in conformity
with generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of
investments, accrued water revenue, useful life of capital assets and self-
insurance liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements, as well as the reported amounts of
revenues and expenses during the reporting period. Actual results may
differ from those estimates.
Recent Accounting Pronouncements—Effective January 1, 2005, the
Authority adopted GASB Statement No. 40, Deposit and Investment Risk
Disclosures—an amendment of GASB Statement No. 3. The statement
establishes more comprehensive disclosure requirements addressing
other common risks of the deposits and investments of state and local
governments. The adoption of this standard did not have a financial
impact on the financial position, results of operations or cash flows
of the Authority. The adoption of this standard required additional
footnote disclosures to the financial statements (see Note 4).
In November 2003, GASB issued GASB Statement No. 42, Accounting
and Financial Reporting for Impairment of Capital Assets and for Insurance
Recoveries. This Statement establishes accounting and financial
reporting standards for impairment of capital assets. A capital asset is
considered impaired when its service utility has declined significantly
and unexpectedly. This Statement also clarifies and establishes
accounting requirements for insurance recoveries. The Authority has
completed the process of evaluating the impact of adopting Statement
of Governmental Accounting Standard No. 42. The adoption of this
standard did not have a financial impact on the financial position,
results of operations or cash flows of the Authority.
In July 2004, GASB issued GASB Statement No. 45, Accounting and
Financial Reporting by Employers for Postemployment Benefits Other Than
Pensions. This Statement establishes standards for the measurement,
recognition, and display of OPEB expense/expenditures and related
liabilities (assets), Note disclosures, and, if applicable, Required
Supplementary Information (“RSI”) in the financial reports of state
and local governmental employers. The Authority has not completed
the process of evaluating the impact that will result from adopting
Statement of Governmental Accounting Standard No. 45. This standard
will be effective for the Authority for its fiscal year ending May 31, 2009.
In December 2004, GASB issued GASB Statement No. 46, Net Assets
Restricted by Enabling Legislation—an amendment of GASB Statement
No. 34. This Statement clarifies that a legally enforceable enabling
legislation restriction is one that a party external to a government—
such as citizens, public interest groups, or the judiciary—can compel a
government to honor. The Statement states that the legal enforceability
of an enabling legislation restriction should be reevaluated if any of the
resources raised by the enabling legislation are used for a purpose not
specified by the enabling legislation or if a government has other cause
for reconsideration. This Statement also specifies the accounting and
financial reporting requirements if new enabling legislation replaces
existing enabling legislation or if legal enforceability is reevaluated and
requires governments to disclose the portion of total net assets that
is restricted by enabling legislation. The Authority has not completed
the process of evaluating the impact that will result from adopting this
Statement. This standard will be effective for the Authority for its fiscal
year ending May 31, 2007.
In March 2005, GASB issued GASB Statement No. 47, Accounting for
Termination Benefits. This Statement provides accounting and reporting
guidance for state and local governments that offer benefits such
as early retirement incentives or severance to employees that are
involuntarily terminated. The Authority has not completed the process
of evaluating the impact that will result from adopting this Statement.
This standard will be effective for the Authority for its fiscal year ending
May 31, 2007.

29
3. utility plant
The following is a summary of total utility plant—net:
Interest capitalized in connection with
construction work-in-progress for the fiscal year
ended May 31, 2006 and January 1, 2005 through
May 31, 2005, totaled $10,330 and $30,250,
respectively.
During fiscal year 2006, the Authority retired
assets with accumulated depreciation totaling
approximately $1.8 million.
Assets of the Authority are depreciated using the
following useful lives:
Asset Description Useful Life (Years)
Source of supply and supply mains 100
Wells and springs 30
Other water source structures 10
Power and pumping structures 30
Pumping equipment 20
Water treatment plant structure 43
Water treatment equipment 23
Distribution tanks 50
Distribution mains 85
Services 50
Meters 15
Hydrants 60
Hydraulic shovel and front loader 8
Hydraulic backhoe 6
Compressors 10
Computer equipment 5
General structures 32
Furniture and fixtures 12
Autos and trucks 5
Other equipment 10
2006 June 1, 2005 Additions Transfers Retirements May 31, 2006
Capital assets not being depreciated:
Land $ 6,131,414 $ — $ 1,329,977 $ — $ 7,461,391
Construction work in progress 6,400,231 18,788,740 (20,977,318) — 4,211,653
Total capital assets not being
depreciated 12,531,645 18,788,740 (19,647,341) — 11,673,044
Other capital assets:
Source of supply 22,867,200 — 476,240 (130,686) 23,212,754
Pumping structures and equipment 23,681,227 — 1,187,141 — 24,868,368
Water treatment plant and equipment 147,546,311 — 5,762,424 (117,984) 153,190,751
Transmission and distribution 261,495,121 385,847 13,265,708 (1,195,524) 273,951,152
General plant 38,915,901 1,563,395 284,973 (995,478) 39,768,791
Total other capital assets 494,505,760 1,949,242 20,976,486 (2,439,672) 514,991,816
Less accumulated depreciation:
Source of supply 5,819,512 312,777 3,205 (107,371) 6,028,123
Pumping structures and equipment 8,748,045 914,246 17,645 9,679,936
Water treatment plant and equipment 33,516,384 4,217,157 99,244 (82,628) 37,750,157
Transmission and distribution 53,437,156 4,381,627 105,465 (790,160) 57,134,088
General plant 23,948,364 2,958,280 11,409 (854,054) 26,063,999
Total accumulated depreciation 125,469,461 12,784,087 236,968 (1,834,213) 136,656,303
Total other capital assets—net 369,036,299 (10,834,845) 20,739,518 (605,459) 378,335,513
Utility plant—net $ 381,567,944 $ 7,953,895 $ 1,092,177 $ (605,459) $ 390,008,557
2005 January 1, 2005 Additions Transfers Retirements May 31, 2005
Capital assets not being depreciated:
Land $ 5,999,464 $ — $ 131,950 $ — $6,131,414
Construction work in progress 62,932,975 9,852,700 (66,385,444) — 6,400,231
Total capital assets not being
depreciated 68,932,439 9,852,700 (66,253,494) — 12,531,645
Other capital assets:
Source of supply 22,826,056 — 41,144 — 22,867,200
Pumping structures and equipment 22,736,929 — 964,298 (20,000) 23,681,227
Water treatment plant and equipment 85,507,483 — 62,116,695 (77,867) 147,546,311
Transmission and distribution 258,935,828 — 2,959,950 (400,657) 261,495,121
General plant 40,568,380 508,631 171,407 (2,332,517) 38,915,901
Total other capital assets 430,574,676 508,631 66,253,494 (2,831,041) 494,505,760
Less accumulated depreciation:
Source of supply 5,685,704 133,698 110 — 5,819,512
Pumping structures and equipment 8,386,839 360,837 12,035 (11,666) 8,748,045
Water treatment plant and equipment 32,369,373 992,743 209,452 (55,184) 33,516,384
Transmission and distribution 51,886,378 1,818,568 16,855 (284,645) 53,437,156
General plant 24,902,982 1,277,381 4,318 (2,236,317) 23,948,364
Total accumulated depreciation 123,231,276 4,583,227 242,770 (2,587,812) 125,469,461
Total other capital assets—net 307,343,400 (4,074,596) 66,010,724 (243,229) 369,036,299
Utility plant—net $ 376,275,839 $ 5,778,104 $ (242,770) $ (243,229) $ 381,567,944

30
5. watershed fund
In January 1999, the Authority established
the Watershed Fund, a separate legal entity
organized and operated exclusively for
charitable, educational, and scientific purposes
within the meaning of Section 501(c)(3) of the
Internal Revenue Code of 1986, specifically for
the purpose of protecting watershed land that
has distinctive ecological significance through
open space acquisition and environmental
education. The Watershed Fund is governed
by a twelve-member Board of Directors, which
includes certain members of the five-member
Authority and the RPB. The five-member
Authority elects the Board of Directors.
Although it is a separate legal entity from the
Authority, the Watershed Fund is included as
a blended component unit in the Authority’s
financial statements, as required by GASB
Statement No. 14, The Financial Reporting Entity.
Upon the establishment of the Watershed
Fund, the Authority made an initial donation
of $1,234,000 to the Fund. The most recent
contribution to the Fund by the Authority was
in 2000 for $452,000. No contributions have
been made subsequently.
4. restricted assets
Pursuant to the Water System Revenue Bond Resolution (the “General Bond Resolution”) of the Authority adopted July 31, 1980, as
amended and supplemented, certain funds of restricted assets are required to be maintained. The assets of these funds can be used only
for the purposes specified in the General Bond Resolution.
Additionally, the General Bond Resolution defines allowable investment securities as direct obligations of the United States of America,
or obligations on which punctual payments of interest and principal are unconditionally guaranteed by the United States of America.
Funds of restricted assets were maintained for the following purposes and are described further below:
2006 2005
Construction $ 23,547,286 $ 19,360,121
Debt service 16,105,866 13,812,899
PILOT 1,569,968 1,443,224
Operating reserve 5,553,257 5,616,618
Capital contingency 3,739,282 3,728,641
Rate stabilization 7,500,239 7,522,587
Other purposes 1,822,328 1,989,548
Restricted assets at market value $ 59,838,226 $ 53,473,638
As of May 31, 2006, the Authority had the following investments and maturities in the following categories:
Values below are at fair value excluding accrued interest of $408,199.
Investment Maturities (in Years)
Fair Value Less Than 1 1 to 5 6 to 10 More Than 10
Rate Stabilization Investments—
Repurchase agreements $ 1,569,494 $ 1,569,494 $ — $ — $ —
Government agencies:
Federal Home Loan Bank 1,779,330 — 1,779,330 — —
Federal National Mortgage Association 1,705,235 489,690 1,215,545 — —
Federal Home Loan Mortgage Corporation 2,010,805 1,491,585 519,220 — —
Federal Farm Credit Bank 435,375 — 435,375 — —
Debt service:
First American Treasury Obligation 97,984 97,984 — — —
U.S. Treasury Bill 16,007,882 16,007,882 — — —
Construction fund:
First American Treasury Obligation 4,016,837 4,016,837 — — —
State of Connecticut Bonds 19,530,449 19,530,449 — — —
PILOT:
First American Treasury Obligation 256 256 — — —
U.S. Treasury Bill 1,569,712 1,569,712
Operating Reserve:
Federal Home Loan Mortgage Corporation 4,826,471 — 1,253,096 3,573,375 —
Capital Contingency:
Federal Home Loan Bank 1,732,500 — — 1,732,500 —
Federal National Mortgage Association 1,591,739 — 1,591,739 — —
Total $ 58,015,898 $ 45,915,718 $ 6,794,305 $ 5,305,875 $ —
Restricted assets consist of investments in U.S. government obligations and accounts receivable totaling $1,822,328 and $1,989,548 at
May 31, 2006 and 2005, respectively. The level of funds required by the General Bond Resolution was met on May 31, 2006 and 2005.
See Note 6 for additional information regarding restricted assets.

31
6. revenue bonds payable
The Authority has issued Water System Revenue Bonds to finance capital projects and to provide for certain restricted funds as required
by the General Bond Resolution.
Revenue bonds outstanding consist of the following:
Issuance Date
Original
Maturity Date
Original
Principal Interest Rate May 31, 2006
Tenth 1992 2012 $ 9,725,000 5.75%–6.500% $ 247,000
Thirteenth 1994 2014 16,300,000 4.00%–6.125% 487,000
Fourteenth 1996 2016 15,245,000 3.60%–5.375% 698,000
Fifteenth 1999 2029 40,767,500 4.00%–5.125% 31,350,000
Sixteenth 2000 2030 30,025,000 4.75%–5.375% 23,905,000
Seventeenth (Refunding Bonds) 2002 2016 43,605,000 3.00%–5.250% 35,700,000
Eighteenth (Refunding and new
money bonds) 2003 2033 236,535,000 2.00%–5.250% 230,680,000
Nineteenth 2004 2033 44,300,000 2.00%–4.625% 41,860,000
Twentieth 2005 2035 23,405,000 3.00%–5.000% 23,405,000
388,332,000
Unamortized bond discount (1,100,481)
Unamortized bond premium 6,888,025
Unamortized bond issuance costs (5,079,307)
Deferred refunding losses (8,381,864)
Unamortized Surety Bond costs (494,840)
Total revenue bonds payable 380,163,533
Less current portion (9,092,500)
Revenue bonds payable—net of current maturities $ 371,071,033
Issuance Date
Original
Maturity Date
Original
Principal Interest Rate May 31, 2005
Tenth 1992 2012 $ 9,725,000 5.75%–6.500% $ 247,000
Thirteenth 1994 2014 16,300,000 4.00%–6.125% 488,000
Fourteenth 1996 2016 15,245,000 3.60%–5.375% 699,000
Fifteenth 1999 2029 40,767,500 4.00%–5.125% 31,350,000
Sixteenth 2000 2030 30,025,000 4.75%–5.375% 23,905,000
Seventeenth (Refunding Bonds) 2002 2016 43,605,000 3.00%–5.250% 38,895,000
Eighteenth (Refunding and new
money bonds) 2003 2033 236,535,000 2.00%–5.250% 234,660,000
Nineteenth 2004 2033 44,300,000 2.00%–4.625% 44,300,000
374,544,000
Unamortized bond discount (1,247,911)
Unamortized bond premium 6,811,483
Unamortized bond issuance costs (4,978,893)
Deferred refunding losses (9,690,617)
Unamortized Surety Bond costs (514,246)
Total revenue bonds payable 364,923,816
Less current portion (9,615,000)
Revenue bonds payable—net of current maturities $ 355,308,816
Bonds require annual principal payments in varying amounts on the respective due dates.

32
Bond discount, premium, and issuance costs are amortized using the interest method over the terms of the series. In accordance with the
provisions of Governmental Accounting Standards Board Statement No. 23, Accounting and Financial Reporting for Refunding of Debt Reported by
Proprietary Activities (“GASB 23”), the Authority has recorded deferred losses on debt refunding which are being amortized on a straight-
line method over the shorter of the life of the new debt or the old debt.
In 2003, a deferred loss of $10,539,398 was recorded for the Eighteenth Series Bonds; and in 2002, a deferred loss of $1,866,216 was
recorded for the Seventeenth Series Bonds. These losses are being amortized over the life of the refunded debt in accordance with GASB 23.
Aggregate maturities of the revenue bonds are as follows:
Fiscal Years Ending May 31 Principal Interest
2007 $ 9,092,500 $ 18,602,826
2008 10,525,000 17,564,726
2009 10,328,500 17,709,115
2010 11,185,000 16,875,013
2011 11,369,000 16,626,212
2012–2016 51,897,000 74,648,307
2017–2021 55,070,000 62,417,556
2022–2026 70,065,000 47,563,238
2027–2031 90,020,000 27,994,575
2032–2036 68,780,000 5,504,303
Total $ 388,332,000 $ 305,505,871
The following represents the more significant requirements of the General Bond Resolution:
Rate Covenants—The Authority is required to establish rates and charges at levels sufficient to cover annual operating and maintenance
expenses (exclusive of depreciation), payments in lieu of taxes (“PILOT”), all debt service requirements and any amounts necessary
to meet reserve requirements established by the General Bond Resolution. In addition, collected revenues (as defined by the General
Bond Resolution), less operating and maintenance expenses incurred and PILOT must equal 110% of annual debt service and collected
revenues, less operating and maintenance expenses incurred, must equal 125% of annual debt service before PILOT.
The Act provides that the rates and charges proposed by the Authority are subject to the approval of the RPB subsequent to a public hearing.
However, the Act also provides that the RPB shall approve such rates and charges proposed by the Authority unless it finds that such rates
and charges will provide funds insufficient for, or significantly in excess of, the amounts required to meet all expenses of the Authority and
the requirements of the General Bond Resolution.
As of May 31, 2006 and 2005, the Authority was in full compliance with the requirements of the General Bond Resolution.
Maintenance of Funds—The General Bond Resolution provides for the maintenance of certain funds, which for financial reporting
purposes, are subparts of the Authority’s overall enterprise fund. All revenues (as defined by the General Bond Resolution) collected by
the Authority are deposited into the Revenue Fund and applied first to the payment of operating expenses, as defined, and then deposited
to restricted funds required to be maintained by the General Bond Resolution. Any funds remaining in the Revenue Fund at the end
of the year, after the above requirements are met, are to be transferred to the General Fund, which is available to the Authority for any
lawful purpose of the Authority. As of May 31, 2006 and 2005, no amounts of cash and cash equivalents are designated for use in the
Construction Fund.
The restricted funds required to be maintained under the General Bond Resolution are as follows:
Construction—Bond proceeds and other amounts deposited in the Construction Fund may be applied only toward payment of the costs of
water system capital projects upon submission of a requisition to the trustee.
Debt Service—The Authority is required to maintain a Debt Service Fund to ensure payment of interest and principal when due. A deposit
must be made each month to provide funds for payment of interest and principal becoming due. No such deposits need be made if the
fund already contains sufficient dollars to satisfy interest coming due within six months and principal coming due within 12 months. The
General Bond Resolution provides that, if the balances of the Debt Service Fund and Debt Reserve Fund are insufficient to pay interest,
principal, or sinking fund payments, the deficiency must be withdrawn from any of the other funds maintained by the Authority.
Debt Reserve—The Authority is required to maintain a Debt Reserve Fund in an amount equal to the maximum aggregate of principal and
interest payments becoming due in any one year in which bonds are outstanding. Amounts in the Debt Reserve Fund are to be used by the
Authority in the event debt service requirements cannot be fully paid from amounts in the Debt Service Fund. As part of its strategy of debt
management, the Authority purchased a surety bond in December 2001, to satisfy the requirements of the General Bond Resolution. The
$30 million that was in the fund was then used for capital improvements.

33
Payments-in-Lieu-of-Taxes (“PILOT”)—The Act requires the Authority to make PILOT to the municipalities in which the Authority owns
property. The Authority is required to make monthly deposits into the PILOT Fund in amounts sufficient to provide funds for PILOT that
have become due in that month.
Operating Reserve—The Authority is required to maintain an Operating Reserve Fund in an amount equal to at least one-sixth of the
amount budgeted for operating expenses at the beginning of the year. Amounts in the Operating Reserve Fund may be used to pay
operating expenses to the extent monies are not otherwise available.
Capital Contingency—The Authority must maintain a Capital Contingency Fund in an amount equal to or greater than 1% of
outstanding bonds to provide for the cost of capital projects made necessary by emergency or other unforeseen circumstances or events.
Insurance Reserve—The General Bond Resolution requires the Authority both to keep its property insured and to carry general liability
insurance or it must maintain an insurance reserve fund. The Authority does not maintain an insurance reserve fund because it carries
property insurance and has coverage for general liability through a member-owned program of “captive” insurance.
Rate Stabilization—The Authority established its Rate Stabilization Fund in 1996. The balance in the fund as of May 31, 2006 and May 31,
2005, was $7,500,239 and $7,522,587, respectively.
Per the General Bond Resolution, before the last day of the first month of each fiscal year, the Authority will deposit (i) in the Rate
Stabilization Fund Variable Rate Bonds Sub-account the amount, if any, by which the interest on variable rate bonds assumed for rate-
making purposes or, if lower, the maximum amount of interest payable under an interest rate limitation contract, exceeded the amount
of interest and related costs actually paid during the previous fiscal year. On October 1, 2004, the Authority converted $30 million of its
Eighteenth Series Bonds to variable rate bonds and funded the Variable Rate Bonds Sub-account appropriately in January 2005.
Also per the General Bond Resolution, the Authority will deposit (ii) in the Rate Stabilization Fund Surplus Sub-account the amount, if
any, determined by the Authority which shall not exceed the amount in excess of the debt service coverage tests for the previous fiscal
year.
7. defeasance of long-term debt
On January 30, 2002, the Authority issued $43,605,000 in Water System Revenue Bonds, Seventeenth Series Bonds, in order to advance
refund $41,410,000 of the Authority’s Tenth, Eleventh, and Thirteenth through Sixteenth Series Water System Revenue Bonds (“the
Refunded Bonds”). The net proceeds of the refunding portion of the Seventeenth Series Bonds and certain other cash amounts were
deposited in escrow with the trustee and invested in U.S. government securities such that the earnings thereon, together with principal,
will be sufficient solely for the purpose of paying principal and interest on the Refunded Bonds. In the opinion of bond counsel, by
deposit of the investment securities with the trustee, the Authority affected a legal defeasance under the terms of its General Bond
Resolution, and the Refunded Bonds will not be considered as outstanding for any purpose. Accordingly, the Refunded Bonds are
considered extinguished; therefore, the investment securities and Refunded Bonds do not appear on the balance sheet of the Authority.
The principal payments on the defeased debt began on August 1, 2002. The principal of the defeased debt has been reduced by
$17,795,000 as of May 31, 2006, leaving a balance of $26,615,000.
The aggregate principal and interest payments of the Seventeenth Series Bonds total $60.2 million, replacing the aggregate principal and
interest payments of $69.5 million on the Refunded Bonds. The transaction generated a deferred loss of $1.9 million, which is being
amortized over the life of the refunded debt.

34
8. defined benefit pension plans
Plan Description—The Authority’s two retirement plans are single-employer defined benefit
pension plans administered under a Master Trust Agreement by the five-member Authority.
The retirement plans provide retirement, disability, and death benefits to plan members and
their beneficiaries. Cost-of-living adjustments are not provided to members and beneficiaries,
but may be made at the discretion of the Authority. The Authority establishes and amends
benefit provisions of the plan.
Funding Policy—The contribution requirements of the plans are calculated annually through
an actuarial valuation prepared as of January 1 of each year.
Annual Pension Cost and Net Pension Obligation—The retirement plans’ annual pension cost
and net pension obligation for the current period were as follows:
2006
(Dollar Amounts in Thousands)
Salaried
Plan
Bargaining
Unit Plan
Annual required contribution $ 537 $ 493
Contributions made (550) (550)
Decrease in net pension obligation (13) (57)
Net pension benefit—beginning of period — —
Net pension benefit—end of period $ (13) $ (57)
2005
(Dollar Amounts in Thousands)
Salaried
Plan
Bargaining
Unit Plan
January 1, 2005 to May 31, 2005 required contribution $ 230 $ 230
Contributions made (230) (230)
Increase (decrease) in net pension obligation — —
Net pension obligation—beginning of period — —
Net pension obligation—end of period $ — $ —
The annual required contributions for the current period were determined as part of
the January 1, 2006, actuarial valuations using the aggregate cost method. The actuarial
assumptions included (a) 8.5% rate of return on investments (net of administrative expenses);
and (b) projected salary increases of 5% (salaried plan only) per year. The actuarial value of
the assets was determined using techniques that smooth the effects of short-term volatility on
the market value of investments.
Three-Year Trend Information
(Dollar amounts in thousands)
Salaried Plan Bargaining Unit Plan
Fiscal Year
Ended
Annual
Pension Cost
(“APC”)
Percentage
of APC
Contributed
Annual Net
Pension
Obligation
Pension Cost
(“APC”)
Percentage
of APC
Contributed
Net Pension
Obligation
12/31/03 $ 387 100 % $ — $ 270 100 % $ —
12/31/04 443 100 % — 421 100 % —
5/31/05 (1)
230 100 % — 230 100 % —
(1) Represents pension costs for the five-month sub period January 1, 2005 through May 31, 2005.
Analysis of Pension Funding Progress
(Dollar amounts in thousands)
Salaried Plan
Actuarial
Valuation
Date
(a)
Actuarial
Value of
Assets
(b)
Benefit
Obligation
Excess
(Deficiency)
of Assets
Over
Obligation
a - b
Funding
Ratio a / b
(c)
Annual
Covered
Payroll
Excess as
a % of
Covered
Payroll
((a - b)/c)
1/1/2003 $ 21,264 $ 21,854 $ (590) 97.3 % $ 9,020 (6.5)%
1/1/2004 20,848 22,621 (1,773) 92.2 % 9,348 (19.0)%
1/1/2005 20,980 23,402 (2,422) 89.7 % 9,647 (25.1)%
Bargaining Unit Plan
Actuarial
Valuation
Date
(a)
Actuarial
Value of
Assets
(b)
Benefit
Obligation
Excess
(Deficiency)
of Assets
Over
Obligation
a - b
Funding
Ratio a / b
(c)
Annual
Covered
Payroll
Excess as
a % of
Covered
Payroll
((a - b)/c)
1/1/2003 $ 13,432 $ 15,094 $ (1,662) 89.0 % $ 7,380 (22.5)%
1/1/2004 13,174 14,373 (1,199) 91.7 % 7,648 (15.7)%
1/1/2005 13,132 15,145 (2,013) 86.7 % 7,723 (26.1)%
9. voluntary investment plan
Effective as of July 1, 1985, the Authority established a voluntary investment plan covering
eligible salaried employees. The Authority is obligated to contribute an amount equal to 50%
of an employee’s contribution, not to exceed 3% of compensation. Effective as of January
1, 1997, eligible bargaining unit employees were allowed to participate in the voluntary
investment plan with no match from the Authority. Effective as of April 17, 2005, the
Authority is obligated to contribute an amount equal to 35% of a bargaining unit employee’s
contribution, not to exceed 2.1% of base compensation. Contributions associated with the
plan were $308,095 and $123,503 for the year ended May 31, 2006 and the five month period
January 1, 2005 through May 31, 2005, respectively.
10. post-retirement health care and life insurance benefits
In addition to providing pension benefits, the Authority provides certain health care benefits
for retired employees and their qualified dependents through an insurance company.
Substantially all of the Authority’s employees may become eligible if they reach normal
retirement age or otherwise qualify for retirement under the Authority’s pension plans. The
Authority recognizes the cost of providing these benefits on an accrual basis. The Authority
also provides death benefits to retired employees.

35
The cost of health insurance benefits provided to retired employees was approximately
$1,038,900 and $372,400 and there were 168 and 152 individuals covered under these
benefits in for the year ended May 31, 2006 and the five month period January 1, 2005
through May 31, 2005, respectively. The cost of death benefits provided was $30,000 and
$32,000 for the year ended May 31, 2006 and the five month period January 1, 2005 through
May 31, 2005, respectively.
11. other liabilities
Newhall Road Property—On July 10, 2001, the Connecticut Department of Environmental
Protection (“DEP”) issued Order No. SRD-128 to the Authority, the Olin Corporation, the
Town of Hamden and the State of Connecticut Board of Education to investigate and remediate
certain environmental conditions and to conduct a public participation program with respect
to a number of properties, including the Hamden Middle School, in the Newhall Road area of
Hamden. All parties requested a hearing on the order within the time allowed by the relevant
statute, which stays the order. Since then, the parties have met with staff of DEP and among
themselves to explore prospects for a negotiated settlement. The parties have conducted
investigations of the areas subject to the order and have negotiated a Consent Order. All parties
have agreed to the language of the Consent Order. The estimated cost of investigation and
remediation for which the Authority is responsible under the Consent Order is between $1.5
million and $3.7 million. Expenditures under the Consent Order are ongoing and anticipated
to continue into 2008. The Authority recorded a liability totaling $2 million related to this
Consent Order as of December 31, 2002 in Other Long-Term Liabilities. The balance as of May
31, 2006 and 2005, remains at $2,000,000.
On August 17, 2006, the Commissioner of DEP announced her proposed decision on a remedy
which includes the potential for delay of more than four years in the timing of the Authority’s
remediation work to allow for elements of the remedy conducted by other parties to be
completed first. The DEP’s range of cost estimates for the Authority’s scope of remediation
is between $5 million and $7 million. The proposed remedy decision is subject to a 60 day
comment period, following which the Commissioner will render a final decision on the
remedy. The Authority is in the process of analyzing the appropriate set of legal responses to
ensure that its obligations under the Consent Order are not inappropriately expanded as a
result of the Commissioner’s proposed remedy. Management believes that its cost estimate of
$1.5 million to $3.7 million is still sound.
12. hazwaste central
As agent for the South Central Connecticut Regional Council of Governments, the Authority
owns and operates, on behalf of Hazwaste Central, a regional collection center for household
hazardous waste, located at its headquarters on Sargent Drive.
Since Hazwaste Central receives its revenue after incurring its operating costs, the Authority
provides advance funding to the organization. The Authority is reimbursed for its advances
when revenue is received by that organization.
13. commitments and contingencies
In the opinion of the Authority and its legal counsel, various legal matters in which the
Authority is currently involved will not materially affect the Authority’s financial position or
net income.
Litigation—A number of claims and suits are pending against the Authority for alleged
damages to persons and properties and for other alleged liabilities arising out of its operations.
The probable outcome of such matters cannot be determined at this time; however, in the
opinion of management, any ultimate liability that may arise from these actions is not
expected to materially affect the Authority’s financial position.
Risk Management—The Authority is subject to certain business risks common to the utility
industry. Some of these risks are mitigated by external insurance coverage obtained by
the Authority. For other significant business risks associated with worker’s compensation,
automobile, and general liability, however, the Authority elected as of October 31, 2000, to
self-insure and participate in a program of “captive” insurance. It is management’s belief that
its exposure to loss arising from self-insured risks or its participation in a program of “captive”
insurance will not materially affect the financial results of the Authority’s operations and cash
flows.
Self-Insurance—The Authority administers a program of self-insurance and provides for losses
by charging operating expense as liabilities are incurred. The Authority records a liability
when it is probable that it has incurred an uninsured loss and it can reasonably estimate that
loss. The Authority’s liability for unpaid claims is based upon the estimated cost of settling the
claims after a review of estimated recoveries. Changes in the amounts recorded for liabilities
for the year ended May 31, 2006 and the five month period January 1, 2005 through May 31,
2005, respectively, were as follows:
2006 January 1, 2005
Claims and
Expenses Paid
Additional
Reserves May 31, 2006
Medical and dental
claims $ 262,713 $ (3,042,357) $ 3,034,660 $ 255,016
Insurance reserve for
“captive” (October
1, 2000—present) 1,316,517 (1,272,438) 1,512,558 1,556,637
Insurance reserve
(Pre October 1,
2000) 614,743 (296,082) 35,000 353,661
Self-insurance
liability $ 2,193,973 $ (4,610,877) $ 4,582,218 $ 2,165,314
2005 January 1, 2004
Claims and
Expenses Paid
Additional
Reserves May 31, 2005
Medical and dental
claims $ 254,987 $ (1,179,858) $ 1,187,584 $ 262,713
Insurance reserve for
“captive” (October
1, 2000—present) 1,103,035 (448,879) 662,361 1,316,517
Insurance reserve
(Pre October 1,
2000) 112,016 (124,620) 627,347 614,743
Self-insurance
liability $ 1,470,038 $ (1,753,357) $ 2,477,292 $ 2,193,973

36
Estimated
Population
Served
RPBVotes
Milesof
Main
CustomersA
Hydrants
Landholdings
(Acres)
Conservation
Easements
Milesof
RecreationTrails
MilesofFishing
Areas
Bethany 12 4 1 5 1 3,272.36 7.60 8.4 2.0
Branford 27,656 7 140 8,426 732 1,158.25 34.87 4.0 2.5
Cheshire 21,277 4 148 6,518 1,065 146.20 224.87 — —
DerbyB
— — C
— — — — —
DurhamB
— — — — — 167.00 11.07 — —
East Haven 27,446 6 110 8,473 541 777.13 3.7 0.5
Guilford — 4 C
— — 3,218.03 6.5 —
HaddamB
— — — — — 103.66 — —
Hamden 51,928 11 216 15,143 998 1,187.61 206.49 — 5.1
Killingworth — 2 — — — 1,227.36 64.63 3.2 0.1
Madison — 6 — — — 4,526.75 24.26 13.5 0.6
Milford 52,796 11 239 18,115 1,377 11.60 — —
New Haven 125,012 14 263 22,537 2,033 24.60 81.55 0.3 —
North Branford 4,478 9 41 1,466 222 5,963.40 5.6 0.8
North Haven 21,124 5 146 7,757 700 55.20 — 1.5
Orange 9,565 3 100 3,733 514 553.14 1.9 0.8
Prospect — 1 C
— 2 829.04 — —
West Haven 52,910 9 150 13,529 851 269.48 2.9 1.5
WolcottB
— — 3 – 24 — — —
Woodbridge 1,078 3 17 459 83 1,728.07 200.00 4.1 1.7
Governor’s Representative — 1 — — — — — —
Totals 395,282 100 1,574 106,161 9,143 25,218.88 855.34 54.1 17.1
A – Metered customers within district; B – Not within district; C – Less than one mile
regional water authority statistics: 2005
about the regional water authority
The South Central Connecticut Regional Water Authority is a non-profit public corporation and political
subdivision of the State of Connecticut. We provide an average of 55 million gallons of water a day to a
population of almost 400,000 persons in 12 south central Connecticut municipalities. As of December 2005,
we employed 290 individuals.
In 1980 the Authority acquired the New Haven Water Company, an investor-owned water utility, which was
founded in 1849. The Authority’s offices are located at 90 Sargent Drive in New Haven, just off Exit 46 of the
Connecticut Turnpike (Long Wharf exit).
members of the south central connecticut
regional water authority
Claire C. Bennitt Chairperson
Joseph A. Cermola Vice Chairperson
Anthony DiSalvo Secretary / Treasurer
Richard G. Bell
C. Anthony Edge
members of the
representative policy board
Robert H. Brinton, Sr. Bethany
Alexandra Breslin Bethany
as of June 1, 2006
R. Douglas Marsh Chairperson
Branford
David Borowy Vice Chairperson
Cheshire
as of July 1, 2006
John E. Leary, Jr. Treasurer;
Chairperson
as of July 1, 2006
East Haven
Carolie Evans Guilford
Stephen A. Mongillo Hamden
Richard W. Albrecht Secretary
Killingworth
Deborah Bunnell Madison
Joseph A. Oslander Madison
as of July 1, 2006
Kevin J. Curseaden Milford
Orest Dubno Vice Chairperson
New Haven
Dan Troiano North Branford
Anthony P. Rescigno North Haven
Brian M. Stone Orange
Robert E. Harvey, Jr. Prospect
T. Gregory Malloy Treasurer
as of July 1, 2006
West Haven
Christopher R. Dickerson Woodbridge
Mark Levine Woodbridge
as of July 1, 2006
F. Patrick McFadden, Jr. Governor’s Representative

W
heelchair Access
Boat Fishing
Cross-Country Skiing
Bicycling
Horseback Riding
Stream
Fishing
Lake
Fishing
Hiking
Genesee Recreation Area
Lake Saltonstall Recreation Area
Hammonasset Recreation Area
Lake Chamberlain Recreation Area
Maltby Lakes Recreation Area
Big Gulph Recreation Area
Lake Bethany Recreation Area
Sugarloaf Hills Recreation Area
Cheshire
Prospect
Bethany
Hamden
Woodbridge
North
Haven
North Branford Guilford
Madison
Killingworth
Orange
Milford
West
Haven
New
Haven
East
Haven
Branford
regional water authority recreation areasregional water authority
management
David Silverstone President
Chief Executive Officer
Thomas Chaplik Vice President –
Water Quality
Kathleen Etkin Vice President –
Finance
Administration
Edward O. Norris, III Vice President –
Engineering
Mary L. Pepe Vice President –
Operations
Janet S. Ryan Chief Technology
Officer
Noel B. Grant Vice President –
Customer Relations
Lucy Moran Controller
general counsel:
Murtha, Cullina, LLP
Hartford, CT 06103-3469
auditors:
Deloitte Touche, LLP
New York, NY 10281-1414
office of consumer affairs:
Joseph C. Lee
New Haven, CT 06511-3809
Writer: JP Huwiler
Photographers:
Harold Shapiro;
Sarah Beth Yoder, pages 16, 19
William T. O’Brien, New Haven Road Race, pages 17, 19
Images on page 19:
Top center: Julia’s Run for Children, courtesy of LEAP
Bottom center: Walk Against Hunger courtesy of
Connecticut Food Bank
Designer: Paul Kazmercyk, GraniteBay Design

90 Sargent Drive, New Haven CT 06511 | (203)562-4020 | www.rwater.com

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